Business Watch
The Russia-China oil pipeline was inaugurated today by Presidents Hu Jintao and Dmitry Medvedev. President Hu called the project, " an example of our cooperation in the energy sector, which cooperation is based on the principles of reciprocity and mutual benefit.I very much hope that after this ceremony, the corresponding companies and departments in China and Russia will make further efforts to promote our cooperation in order to take Chinese-Russian relations and strategic partnership to a higher level".
Mr. Medvedev said,"This is a major project that will truly bring our nations even closer and allow us to resolve a wide variety of economic and social challenges. It is directed toward the future, it is mutually beneficial, and I am certain that it will be advantageous to both our nations."
Russia's Gazprom wants German chemical giant BASF to sign on to the South Stream gas pipeline so as to preserve Russian influence in the energy sector, the German business daily Handelsblatt said Wednesday.Gazprom has offered a 10-20 percent stake in the project to Wintershall, BASF's hydrocarbon subsidiary, in a deal worth several billion euros (dollars), the newspaper reported.
Russia's Prime Minister Vladimir Putin on Sunday formally opened the Russian section of an oil pipeline to China, hailing it as an important step in diversifying energy exports away from Europe. The new pipeline is a 64-km spur from the strategic 4,800-km Eastern Siberia-Pacific Ocean (ESPO) pipeline. The first 2,700-km section from Taishet in the Siberian region of Irkutsk east to Skovorodino in the Amur Region was inaugurated by Putin last December. The pipeline, built and operated by state monopoly Transneft, will enable Russia to export crude oil from its new oilfields in Eastern Siberia to the Asian Pacific markets of China, Korea and Japan from its terminal at Kozmina, on the Sea of Japan.
European news agencies say the French company “Gas de France Suez” has officially joined the Nord Stream as the fifth and the last member of the gas pipeline project, Voice of Russia has reported. According to the French company’s financial report on the results of the first six months of the year, the transaction to acquire a 9% stake in Nord Stream AG is closed. The amount of the transaction is not disclosed. The original memorandum covering the company's participation was signed in Paris in March in front of Presidents Medvedev and Sarkozy. An agreement was signed in July.
Кредиты размером 15 миллиардов долларов США нефтедобывающей компании «Роснефть» и 10 миллиардов долларов нефтепроводному монополисту «Транснефть», выданные Китайским банком развития, обеспечат стране на ближайшие 20 лет гарантированные 15 миллионов тонн нефти в год, которые поступят в Китай через продолжение нефтепровода «Восточная Сибирь –Тихий океан». Последние точки над «i» в договоре были расставлены в феврале, когда заместитель премьер министра Игорь Сечин посетил Пекин для проведения переговоров с членами правительства, в результате чего был подписан проект договора.